Business
Victoria’s Secret (VSXY) earnings Q1 2026
Shoppers may be feeling gloomy about high prices at the pump, but they’re still shelling out for new bras and underwear at Victoria’s Secret.
The lingerie retailer raised its full-year guidance on Tuesday after blowing past earnings estimates in its fiscal first quarter, citing lower tariff costs and more customers willing to spend full price on its products. Shares of Victoria’s Secret soared about 40% in premarket trading.
There was “very consistent, double-digit [sales] increases across Victoria’s Secret, Pink, beauty channels, digital, stores and international, all very positive,” CEO Hillary Super told CNBC in an interview. “Supercharging bras being one of our most important initiatives, double-digit [comparable sales growth] there, and I think the loyalty that bras creates and the anchor that it is in the business is just so important.”
Super added the company grew sales with “significantly” fewer promotions and gained market share during the quarter, particularly with shoppers ages 18 to 24.
During the first quarter, some retailers saw strong growth that they attributed partially to higher tax refunds. While Victoria’s Secret finance chief Scott Sekella said some customers used that extra stimulus to go shopping at its stores, it was a “normal amount,” and trends have remained consistent so far this quarter, even with tax refunds having dried up for many people.
Victoria’s Secret is now expecting full-year sales to be between $7.03 billion and $7.13 billion, up from a previous range of between $6.85 billion to $6.95 billion and well ahead of estimates of $6.99 billion, according to LSEG.
The company also raised its full-year guidance for adjusted opening income by more than $100 million. It’s now expecting adjusted operating income to be between $550 million and $580 million, up from a previous range of between $430 million to $460 million.
Sekella said the company hiked its outlook because better-than-expected sales led to stronger leverage on fixed costs, and it also factored in lower tariff rates now that many of President Donald Trump‘s sweeping duties have been ruled illegal.
“All of this is predicated on the Q1 that we had, the momentum we see into Q2 and how we feel about our back half launches,” said Sekella.
The company also issued rosy guidance for the current quarter, even as some peers released conservative outlooks as they monitor whether consumers pull back on spending without the boost from tax refunds. It said it’s expecting sales to be between $1.59 billion and $1.62 billion, beating expectations of $1.56 billion, according to LSEG.
Here’s how Victoria’s Secret performed during the fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
- Earnings per share: 60 cents adjusted vs. 30 cents expected
- Revenue: $1.56 billion vs. $1.52 billion expected
The company’s reported net income for the three-month period that ended May 2 was $47.7 million, or 56 cents per share, compared with a loss of $1.66 million, or 2 cents per share, a year earlier. Excluding one-time restructuring costs, Victoria’s Secret saw earnings per share of 60 cents.
Sales rose to $1.56 billion, up about 15% from $1.35 billion a year earlier. Comparable sales, including stores and e-commerce revenue, grew 13%, beating expectations of 11.4%, according to StreetAccount.
Victoria’s Secrets’ results represent a new milestone for the company. While Super has been with the retailer for almost two years, she said the executive team she put in place is reaching their one-year anniversary and the results of the turnaround they’ve been working on are coming to life.
“Once you hit that year you start compounding your contributions, because you see the patterns, you see where things are going, and you’re able to really, I think, have a multiplier effect in the work you do,” said Super. “We are early innings. I think we very much know where we’re going, and if anything, as we build these strategies out, and as we continue to grow these businesses, we see new opportunities, and so it’s a matter of staging those and making sure that we are getting all the juice for the squeeze of the things that we are doing.”
During the quarter, Super said the company saw sales increases across all income cohorts but crucially, the most growth came from those making under $50,000 annually and those making more than $200,000 annually – showing that its products are what’s winning, not price or discounts.
Since Super took over, she’s worked to reconnect Victoria’s Secret with its core identity — a sexy lingerie brand that isn’t sexy at the expense of comfort but offers products that are more emotional than utilitarian. She’s worked to grow its beauty business, reignite the Pink brand and build back its bra line, which serves as an anchor for the overall company.
Over the last few years, Victoria’s Secret has faced a range of savvy, upstart competitors, shifting views over beauty standards and criticisms over perpetuating unrealistic stereotypes, particularly through its models.
Super has worked to unwind some of those issues, while also building a business that can win over a new generation of shoppers.
One thing that’s helped the company is its large store footprint in malls, which is something it had been criticized for in the past.
“We are very, very good at that in real-life experience, and our stores have proven to be a competitive advantage,” said Super. “They are a place where she wants to be and wants to have an experience that’s for her.”
Business
Karooooo: Good Growth, Real Cash Flow, And A Fair Multiple
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At Close of Business podcast June 22 2026
Sam Jones and Tom Zaunmayr talk about the recent Indigenous Business publication.
Business
Millions Mark International Day of Yoga as Celebration Coincides With Summer Solstice
Yoga enthusiasts gathered in different parts of the world on Sunday to mark the International Day of Yoga. This year, the annual tribute to yoga coincided with the summer solstice, the longest day of the year.
A 12th Year of Global Observance
International Yoga Day 2026 was celebrated across the world on June 21 with the theme “Yoga for Healthy Ageing.” The annual observance highlighted the importance of yoga in promoting physical fitness, mental well-being, emotional resilience, and active ageing. Millions of people from different countries participated in yoga sessions, wellness programs, and community events to mark the occasion.
This Year’s Theme
The theme emphasizes the role of yoga in enhancing both lifespan and healthspan. It encourages people of all ages to adopt yoga as a regular practice for maintaining physical strength, flexibility, mental clarity, and emotional balance. The focus on healthy ageing comes at a time when countries worldwide are addressing challenges associated with ageing populations, lifestyle diseases, and mental health concerns.
Modi Leads Celebrations in Kolkata
Prime Minister Narendra Modi led the national observance of the 12th International Day of Yoga at Red Road in Kolkata. Modi performed yoga asanas alongside thousands of people, asserting that yoga has the power to unite the entire world.
Speaking during the nationwide celebrations, Modi noted that June 21 holds special significance because it is the longest day of the year for many parts of the world. “June 21, which marks the longest day on Earth, has now become the largest community celebration day because of yoga. Yoga brings people together. I congratulate the people of the world on this occasion,” Modi said.
Modi also emphasized that yoga should not be confined to a single annual occasion. The prime minister said people should not restrict yoga to only particular occasions, and it must be made part of people’s lives. Emphasizing the importance of healthy ageing, Modi said efforts must be made to ensure that advancing age does not reduce human potential.
The Astronomical and Spiritual Significance of the Date
The timing of International Yoga Day carries both scientific and traditional significance, tied directly to the Earth’s position relative to the sun. The summer solstice, which happens around June 21 each year, is an astronomical event that marks the longest day and shortest night of the year in the Northern Hemisphere. It happens when the Earth’s North Pole is tilted closest to the Sun, resulting in the maximum amount of daylight.
The summer solstice occurs when the Earth’s axial tilt is most inclined toward the Sun, positioning the Sun directly over the Tropic of Cancer. This results in the longest period of daylight in the Northern Hemisphere. In 2026, the summer solstice falls on June 21, with countries including India, the United States, and much of Europe experiencing the highest number of sunlight hours of the year.
Beyond the astronomical timing, the date also carries deep roots within yogic tradition itself. According to tradition, it was after the summer solstice that Adiyogi, regarded as the first yogi, began imparting yogic knowledge to his disciples, known as the Saptarishis. Because of both the symbolic and the spiritual importance of June 21, it is celebrated as International Yoga Day, standing for the harmony between humanity and all of nature, as well as representing yoga’s contribution to the improvement of physical, mental, and spiritual health.
The Origins of the Global Observance
International Yoga Day was first observed in 2015 after the United Nations adopted India’s proposal to dedicate June 21 to yoga. Prime Minister Narendra Modi proposed International Yoga Day during his address to the UN General Assembly in 2014. The resolution received support from 177 countries, making it one of the most widely supported resolutions in UN history.
A Movement That Has Grown Dramatically
Since its first observance, participation has expanded dramatically, with mass yoga sessions being organized in cities, towns, schools, community centres, and public spaces around the world. What began as a single coordinated day of practice has since evolved into one of the most widely observed annual wellness events globally, drawing participants across vastly different cultures, age groups, and levels of yoga experience.
Celebrity and Athletic Voices Join the Movement
Beyond the political and institutional observances, the day also drew participation from prominent figures in entertainment and sport. Notable personalities, including actress Shilpa Shetty and Olympic javelin medalist Neeraj Chopra, joined celebrations promoting yoga and fitness awareness, helping extend the day’s visibility beyond traditional wellness and political circles.
A Day That Continues to Resonate
International Yoga Day 2026 reaffirmed yoga’s position as a global movement for health, harmony, and well-being. With the theme “Yoga for Healthy Ageing,” this year’s celebrations highlighted yoga’s role in improving quality of life across generations. As millions participated worldwide, yoga continued to serve as a bridge connecting people, cultures, and nations while showcasing India’s rich civilizational heritage to the world.
With this year’s observance once again drawing record levels of participation across continents, the annual celebration appears poised to continue its trajectory as one of the most widely embraced global wellness initiatives tied to a single calendar date. Given the United Nations’ continued institutional backing and the consistent involvement of national leaders, celebrities, and athletes each year, International Yoga Day’s twin observance alongside the summer solstice is likely to remain a fixture of the global calendar, with organizers and participants alike continuing to draw on both the astronomical and spiritual significance of June 21 as the foundation for the day’s worldwide celebrations.
Business
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British Smaller Companies VCT2 pays dividend, issues shares

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Cochin Shipyard shares fall 3% amid buzz around OFS at 8% discount
The company’s shares plunged to Rs 1,418 apiece on NSE in the afternoon trading hours of Monday as buzz around stake sale by the company’s largest promoter may have dampened investor sentiment.
The government is likely to launch the OFS soon as part of its move to mop up resources through such offers in PSU companies, CNBC-TV18 reported citing people familiar with the matter. The report added that the government has so far raised more than Rs 16,000 crore via OFS in PSU companies this year.
The Economic Times could not independently verify the report.
This comes as the government recently ramped up its disinvestment efforts. Recently, the government offloaded some of its stake in Coal India, NHPC, NLC India, General Insurance Corporation of India (GIC) and other PSU companies.
Cochin Shipyard shareholding pattern
The central government owned nearly 68% stake in Cochin Shipyard as on March 31, 2026, according to data on NSE on the company’s shareholding pattern. Around 24 mutual funds owned a little over 2% stake, while Life Insurance Corporation of India (LIC) held over 3% stake.
Nearly 9.62 lakh shareholders meanwhile collectively held around 20% stake in Cochin Shipyard, data showed.
Cochin Shipyard share price
Cochin Shipyard shares have gained nearly 2% in one week, but fell over 6% in one month and 12% in 2026 so far. The stock has tumbled 34% in one year.
In the longer term, the shares of the company have delivered 391% returns over three years and 601% over five years. The company has a market capitalisation of Rs 37,699 crore.Also Read | NHPC OFS fully subscribed; govt garners about ₹4,300 crore
Cochin Shipyard earnings snapshot
Cochin Shipyard in May reported a net profit of Rs 276.50 crore for Q4 FY26, marking 3.7% decline from Rs 287 crore reported in the same quarter last year. Revenue from operations fell 15.6% year-on-year to Rs 1,484.3 crore from Rs 1,757.7 crore in the corresponding period a year ago.
Despite weaker revenue, the company delivered a strong operating performance during the quarter. EBITDA rose 16.5% to Rs 310 crore from Rs 266 crore in Q4FY25, while EBITDA margin expanded significantly to 20.9% from 15.1% a year earlier. The improvement in margins reflected tighter cost controls and improved operational efficiency, which helped support overall profitability despite the decline in topline growth.
Also Read | Cochin Shipyard Q4 net profit, revenue decline YoY
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business
Aldi Launches Free ‘Blind Box’ Giveaway Online, With New Themed Drops Through June 25
Hidden grocery items packaged and ready for discovery are popping up through Aldi’s online platform this week, as the discount grocer brings the viral “blind box” trend to its digital shopping experience — offering customers a chance to claim a mystery box of products for free, for a limited time only.
A New Twist on a Viral Trend
The blind box trend has officially made its way to Aldi shoppers digitally, offering shoppers a chance to claim one of the mystery items for free — but only for a limited time. Aldi has unveiled blind box grocery bundles that customers can claim for free online, tapping into a broader cultural moment built around the appeal of surprise unboxing.
Bridget Kozlowski, director of communications for Aldi, explained the thinking behind the promotion in a news release. “The ALDI Blind Box taps into the excitement our fans already feel walking our aisles,” Kozlowski said. “Our shoppers come to ALDI for value, but they also come for discovery. From viral ALDI Finds to tried-and-true products shoppers love to tell their friends about, people love the thrill of discovering something new here.”
When the Boxes Become Available
A new Aldi Blind Box will be released every day from June 22 to 25. At 11 a.m. local time each day, customers can visit AldiBlindBox.com to claim that day’s free themed box while supplies last.
The giveaway is structured to reward those who act quickly once each day’s box becomes available. The boxes will be given away on a first-come, first-served basis, the company said in a news release, adding that more than 100 boxes will be given away per drop.
No In-Store Pickup Option
For customers hoping to simply walk into a local Aldi location to claim a box in person, the promotion does not currently extend to physical stores. Store managers contacted at two Aldi locations said they hadn’t been notified of any in-store participation for the blind boxes, indicating the giveaway is being run exclusively through Aldi’s online platform rather than at brick-and-mortar locations.
How to Claim a Box
In the news release, Aldi outlined the specific steps customers need to follow in order to receive a blind box: follow @aldiusa on Instagram for daily reveals of each box theme, visit AldiBlindBox.com beginning at noon on June 22 through June 25 daily, select that day’s Aldi Blind Box, enter shipping information, and receive a free Aldi Blind Box delivered directly to the customer’s door.
The Four Box Themes
The boxes are filled with fan-favorite products and “fresh picks from across every aisle,” the grocer said in a news release. Aldi has organized the four-day promotion around a distinct theme for each box: a Snack Blind Box featuring premium cheeses, dips, crunchy bites, and sweets; a Fiber Blind Box featuring produce favorites and better-for-you picks; a Protein Blind Box featuring satisfying staples and surprising finds; and a Mystery Blind Box featuring a surprise assortment of Aldi fan favorites and staples.
Social media users can visit Aldi’s Instagram page to see which theme drops next, giving customers advance notice of each day’s specific box category before it becomes available for claim.
Kozlowski tied the promotion directly to the broader popularity of unboxing content across social media platforms. “With surprise unboxings more popular than ever, this is our way of helping customers discover even more favorites,” she added.
A Broader Strategic Shift for Aldi
The blind box promotion arrives alongside a separate, more structural change underway at the company, as Aldi works to modernize the physical look and feel of its stores across the United States. Shoppers at some Aldi stores may start noticing changes, from new signage and pricing language to updated visuals, as the German discount grocery chain tests a redesigned store format in the United States.
The updates are part of a broader effort by Aldi South to give its stores a more consistent look worldwide. The company is working with Australian design and brand consultant agency Landini Associates on a new format that can be adapted for different countries, including the United States.
Aldi’s Existing Store Philosophy
On its website, Aldi describes its current stores as offering everyday essentials in “smaller, more sustainable spaces,” with product packaging designed to double as displays — a strategy intended to save time, labor, and costs. That approach has long been central to the company’s value proposition, allowing it to keep prices low relative to traditional full-service grocery chains.
A More Flexible Format Ahead
The redesign effort suggests Aldi is looking to build greater adaptability into its physical store footprint moving forward, potentially opening the door to new types of locations beyond its traditional suburban format. According to Forbes, the new store model is designed to be more flexible, allowing Aldi to test different layouts and formats. That could include smaller, corner-store-style locations, which may help the company enter tighter urban areas or smaller markets.
With the blind box promotion running daily through June 25 and a new themed box becoming available online each morning at 11 a.m. local time, customers interested in claiming a free box should plan to act quickly once each day’s drop goes live, given the first-come, first-served structure and the more than 100-box limit per release. Separately, as Aldi continues testing its redesigned store format in select U.S. locations, shoppers in various markets may begin noticing updated signage, pricing language, and visual branding in the months ahead, as the company works toward a more globally consistent store experience while exploring potential expansion into smaller, more urban-friendly formats.
Business
Record $312m Opening Marks Pixar Comeback
Disney and Pixar have a genuine hit on their hands. Toy Story 5 has taken more than $312m (£236m) at the global box office in its first three days, the strongest opening weekend in the history of the animated franchise and a much-needed shot in the arm for a studio that has endured a bumpy few years.
Released on 19 June, the fifth chapter in the Toy Story saga reunites Woody, Jessie and Buzz Lightyear, only this time their fiercest rival is not a rival toy but a tablet computer. The premise has clearly landed with families: audiences handed the film a coveted “A” CinemaScore, and the numbers followed.
The opening split roughly $160m in North America and around $152m across international markets, according to figures reported by Variety. That makes it the second-biggest global launch of the year so far, behind only The Super Mario Galaxy Movie, which remains 2026’s highest-grossing release with takings north of $1bn.
For the business behind the toys, the result carries real weight. With a production budget estimated at $250m, Toy Story 5 needs to earn at least double that figure to cover marketing and distribution costs before it moves into profit. On the evidence of the opening weekend, that looks comfortably achievable.
Pixar has form here. The studio’s films have historically recouped their budgets, often several times over, with a number of titles taking three times what they cost to make and promote. Sequels in particular have been reliable earners: The Incredibles 2 and Inside Out 2 both sailed past the $1bn mark, as did the third and fourth Toy Story instalments.
The win is all the more important given the run that preceded it. Recent Pixar and Disney releases such as the alien adventure Elio and the Toy Story spin-off Lightyear underperformed sharply, while The Mandalorian and Grogu, the studio’s latest big-budget Star Wars outing, has yet to double its $165m cost. A franchise-best opening helps steady the ship, and it follows a wider recovery for Disney’s UK business as its theatrical and streaming arms have found firmer footing.
The result lands against a challenging industry picture. Overall box office revenues have fallen since the Covid-19 pandemic, as studios have struggled to coax audiences back into cinemas and viewing habits have shifted towards streaming platforms. The pressure has been felt most acutely by big-budget blockbusters, many of which have stumbled despite heavy marketing spend, and the squeeze on household budgets has prompted some viewers to trim their streaming subscriptions altogether.
Against that backdrop, a tentpole release that overperforms is exactly the kind of result distributors and exhibitors have been waiting for, much as the trade is hoping a strong summer slate, including Apple’s heavily promoted F1 motor-racing feature, can keep momentum going.
Toy Story remains one of Pixar’s most lucrative properties, having generated more than $3bn at the global box office since Woody and Buzz first arrived on screen in 1995. The original film, set in a world where toys spring to life when no one is watching, transformed the use of computer-generated imagery and propelled Pixar into the front rank of animation studios.
This latest opening, which Deadline had flagged as a likely franchise and year-to-date record before release, suggests the appetite for the series has not dimmed. After a difficult stretch, Disney and Pixar will hope it marks the moment the magic came back.
Business
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